Octopus Ventures has led a group of investors backing a Series A round for Pngme, an Africa-focused fintech startup that raised $3 million for its seed round less than a year ago. The latest round adds $15 million to Pngme’s pot which will be used for its expansion plans. These include making hires for its senior executive ranks, its technology, and product development teams as well as its sales function.
“With the demand we are seeing in our core markets and from financial institutions globally, it is clear we are solving a major pain point by building financial data infrastructure and machine learning-as-a-service,” said Pngme’s CEO Brendan Playford.
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